What Is A Rescission Of Acceleration Of Loan Maturity?


LoanSafe Member
Oct 18, 2014

Based on my understanding, they stop or rescind calling the loan due and pursuing foreclosure. This is normally done when there is some type of loan workout such as a mortgage modification being negotiated, or possibly they do not have a signed copy of the mortgage note and no legal right to foreclose. This also could be for the holidays if you had sale date during this time because many lenders are putting moratoriums on foreclosures. Do you know if Chase owns the loan?

Unfortunately, I highly doubt that the liens will be ever removed and you will still owe the debt. I have never seen anyone get a free house. They will most likely just file some paperwork in the coming months and proceed forward.
" I have never seen anyone get a free house." Really? I have! Everyday the banks are getting free houses.